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This last Capital raise is going to hurt for a while. That was a very poor management move IMHO.
I put in a bid at the ask today and did not get filled. I will try again tomorrow.
I am still happy here, and adding more. My patience is not "forced". I am looking at the longer term. I had no intention of selling for two to three years. I don't think I have ever been involved with a mine startup that went as planned in the short term.
Well , forced patience was not what I had in mind .
Not much of a choice as I am very "under water" with this stock .
Have you looked at the chart recently ?
https://ih.advfn.com/stock-market/USOTC/pure-gold-mining-pk-LRTNF/chart
Stay safe >> M
I have the patience that these startups require.
There is no place better to be now than miners that are producing more than they are spending. Sentiment will change soon enough and miners will explode. There are so many 10 baggers waiting to happen, just keep buying and relax. Take joy in buying at all time lows and be patient.
Agree . However , now-a-days ... no good news goes unpunished ...
Stay safe >> M
I saw that also. Not too shabby.
PureGold Definition Drilling Confirms High Grades in Upcoming Stopes.
Current mine plan reinforced by new infill intercepts including 21.1 g/t gold over 4.0 metres and 20.7 g/t gold over 3.0 metres .
https://www.otcmarkets.com/stock/LRTNF/news/story?e&id=2104504
I thought they would be making management changes if Q4 was not excellent, and it was not. I still look for big things to happen, just not as soon as expected. Just growing pains IMHO.
Thanks for passing on the "spoiler alert". In the recent months I contributed to the tax loss season and was able to protect some wins in other stocks.
I have been keeping Pure Gold in mind for re-entering here at the bottom because of the recent hands-on envolvement of Ms. Maryse Belanger, recently appointed as MGM (Mining General Manager?). This was recently positively commented on by Gwen Preston in her Resource Maven newsletter.
So ... "SPOILER ALERT" .. An honest opinion from a guy I follow ...
"Changes at Pure Gold Mining (PGM.V)(LRTNF)(PUR.L)
The year 2021 was a tough one for most of us but few mining companies experienced more problems than did Pure Gold Mining.
Maybe the Company’s internet home page gives us a clue to the brains or lack thereof who were running this company.
PureGold is a Growth Company
Our Mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and disciplined creativity to achieve exponential transformative growth, in both size and scale of our multi-million-ounce gold deposit.
Our Phased Organic Growth Strategy is also pure and simple, and financially solid.
Our Phase One Mine is just the beginning. Our growth will be fueled by our aggressive and highly-successful exploration drilling program along our 7-kilometer-long Gold Corridor.1 More than one million metres of drill results confirm that this Gold Corridor has similar rock, structure, and geology as the famous Red Lake Mine Complex right next door – mines that have produced over 25 million ounces of high-grade gold, valued at over USD $50 billion dollars in today’s market.1,3,8
Our World View?
Dream Big.
Sounds much like the same nonsense peddled by the Canadian cannabis operators with much the same results in the market.
PGM.V closed Dec. 31, 2020 at C$2.58, and closed Dec. 31, 2021 at C$0.68, which happens to be a loss of -73.64% for those who were holding, including me, at least for a few shares that I didn’t sell along the way.
We investors weren’t dreamers. We simply bought the news release hype that this mine would become one of Canada’s finest Gold mines when all we could later see were missed guidance, operational difficulties, and dilutive share issuances at highly dubious prices and timing that perhaps the Ontario Securities Commission might care to investigate.
Today the Company issued another news release. This one announces the replacement of the CEO and CFO Darin Labrenz and Sean Tetzlaff. I don’t know the new people, Troy Fierro and Chris Haubrich, except that Haubrich had been a vice-president.
Not being on the inside like Eric Sprott and many others who knew far more than the public of what was truly going on, I will venture a guess that many greedy parties were involved in daily warfare at Red Lake.
The Company also reports that “following operational improvements at the mine, it is now targeting daily production of between 600 and 700 metric tons for the first quarter of 2022”. They say that Q4 daily production of 556 tons yielded a total of 7,657 oz of Gold.
If that’s the rock doing the talk, then investors have been badly let down.
On Oct. 27, I reported: “Today, the Company reported improvement in several areas:
Production highlights and milestones for the third quarter include:
• Average daily throughput of 685 tpd for the quarter, a 35% increase compared to the second quarter driven by increased stope access and mill upgrades;
• Gold production of 9,260 ounces, a 54% increase compared to the second quarter driven by higher grades and increased tonnage…
Maybe the Company forgot what they reported after Q3, and maybe they simply don’t care when they look into your face and lie?
It’s not as if several of us here including Goldbug58 and Scott were not questioning the falling share price of my once “favorite mine developer”. You can find that via the Comment Search function on this page.
Anyway, I kept a few shares through year-end to remind myself that (i) mining is a tough business that often goes sideways, and (ii) the first report of problems there early in 2021 should have led me to accept the possibility of a worst-case scenario where insiders were painting lipstick on a pig.
Is there hope for the shareholders? I wouldn’t know. You’ll have to ask the insiders, including those who didn’t quietly or illegally (i.e., without reporting) off their stock during the year. Clearly, somebody was selling throughout the year.
My guess is that the insiders who still own and control the management of this Company are now trying to work out a self-benefitting deal to sell the asset to a mining company in the Red Lake area that is professionally run. That’s usually how these things go."
https://www.billcara.com/community/
Sure wish something would help kick this company in gear ...
Stay safe >> M
Thanks for posting this article molee
PureGold Transitions to Operational Leadership Team and Provides Project Update .
https://www.otcmarkets.com/stock/LRTNF/news/story?e&id=2093030
Bullion Banks pre-market smack down getting old . What's changed since last week ?
We'll never see share price increase at this rate ...
Stay safe >> M
I think it will take another improved Q report to kick this in gear.
GOLD starting to recover lately . Will Pure Gold do the same ??
Or will we have to wait until the beginning of the new year ?
We'll see I suppose ...
Stay safe >> M
Thanks for posting the link
Pure Gold CEO on the pivotal year ahead
Henry Lazenby | December 23, 2021 | 10:51 am Careers Video Canada Gold
https://www.mining.com/video-interview-darin-labrenz-on-pure-golds-pivotal-year-ahead/
I want more shares before the next Q. I am selling some other things and accumulating for my next big buy which will probably be the first part of Feb. I may keep nibbling a little between now and then though.
Looks like some relief may be on the way ...
Stay safe >> M
The beat down continues . 52 week low this morning ...
2 pm today will set the future direction . Place your bets or wait it out .
Stay safe >> M
Tax loss selling is taking its toll on a lot of companies that did not do well this year. That too will pass. JMHO
US Producer Price Inflation is soaring, and above expectations .
PPI actual = +9.6% Y/Y vs +9.2% expected and +8.8% actual a month ago.
Precious metals getting hit hard today as a result ... Oh my ...
Stay safe >> M
Pure Gold
Eric Sprott Yearly Wrap Up Interview Pure at 38:50
To get link go to:
" Feels like we've been here done this before." Absolutely.
Hello sir in a different context! Been lurking here a bit, too. Similar thoughts, perhaps. Accumulated more yesteday. Feels like we've been here done this before...hopefully so. I'm pretty patient..
It sure does not seem right. I believe it is an opportunity, but that is only my opinion. one can pick up a few here and a few there and wait. I have been through this a few times.
So . 55 cents now ... doesn't seem right ...
Stay safe >> M
Well, I am going to be buying again Monday. They have the a lot of gold at very good grades. I believe because of quarter over quarter improvements they can make it work. But I sold one last month that had a hard time bringing their mine up to potential. They sold to a major and I did very well on the deal.
Gold bounced off $1768 overnight . Good enough ? We'll see ...
Averaging down is a real "mofo" ...
Stay safe >> M
Pathetic manipulation by Bullion Banks ...
https://www.investing.com/commodities/gold
Stay safe >> M
I got a few more today also. Have a great turkey day.
Just call me crazy .. Picked up some @ .6101 ... HA !
Happy Thanksgiving to all ... Stay safe >> M
I missed this today. If it stays down or falls tomorrow, I am a buyer again.
Oh well , $1765-$1770 area looks to be next "support" .. BWTFDIK ? Right ?
Stay safe >> M
Well , miners and gold are certainly joined at the hip when gold goes down , that's for sure .
Hopefully gold doesn't lose support level $1835 overnight .
Stay safe >> M
I just bought a few more shares. I am not short term and believe in the potential. The problems here were with the production startup. Startups seldom go as planned and with the impatience of many shareholders this gives experienced patient investors opportunity.
Again , the disconnect between gold $$ and mining $$ ..Gold up $15 .
$LRTNF .70 ...
Stay safe >> M
I agree with every thing you stated.
I've been using Socrates for over 10 years and I've never been scammed. I know Armstrong personally and he has never scammed me. I go to his conferences and meet thousands of people every year who have never been scammed by him but I know hundreds of gold bulls who hate him, I know our government tried to kill him for his source code. I would encourage any one who wants to know the truth to watch "The Forecaster".
As for me, I'll continue to make money off of Socrates calls and this time will be no different.
Inflation is bad and will continue to worsen - Precious Metals rise in Inflationary times as they are risk-adverse. I made a lot of money off precious metals in the early 1980's. I see the same starting to happen now.
Anyways, I just picked up some LRTNF today - .73x is an absolute steal
We are definitely undervalued here - We should see gold break 1900 by the end of the month.
GLTA - Shermann
Everything is cyclical and these are dates in the cycle. When time meets price is when you get the big moves as well as ECM turning points. To understand more I would recommend you read armstrongblog daily and learn about Socrates. A lot of the information he provides is free. Marty is the only person I listen to when it comes to the markets. Everyone else is a fraud IMO
PureGold Gold Reports Third Quarter 2021 Financial and Operating Results .
https://www.otcmarkets.com/stock/LRTNF/news/story?e&id=2053671
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PureGold is a growth company, located in the very heart of Red Lake, Canada.
Red Lake is the world-famous high-grade gold district which has already produced more than 30 million ounces of gold, valued at over USD $50 billion in today’s prices.3
Little wonder Red Lake is called the high-grade gold capital of the world.
Our Mandate. Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and disciplined creativity to exponentially increase the size and scale of our high-grade gold assets along PureGold’s 100%-owned property – historically the second-highest gold-producing property in the Red Lake District.
Our Objective. Our objective is also pure and simple. To develop a highly-profitable long-life gold mining company in the heart of Red Lake, becoming Canada’s next iconic gold producer.
Our Plan. Our plan is very disciplined, very methodical, and financially sound.
To expand organically, and develop PureGold’s multi-million-ounce high-grade gold asset incrementally, step-by-step, using a Phased mining development plan to deliver maximum profitability.
Our Growth Strategy. Our growth and profitability strategy is focused on two parallel paths. First, to generate exponential growth in the size and scale of our multi-million-ounce gold asset. Second, to simultaneously generate over $2.3 billion in revenue – and over $1.2 billion in pre-tax free cash flow – from our Phase One mine alone.1,3
What Have We Accomplished To Date? In less than six years, PureGold has advanced it’s project from exploration, through development and into production, on budget and on schedule.
Even more impressive is our pre-tax operating margin of more than $1,350 an ounce – an extraordinary margin expected to generate more than $1.2 billion in pre-tax cash flow over the next 12 years alone.1,3
Welcome to The PureGold Mine.
PureGold’s Phase One mine has started pouring its first million ounces of high-grade gold. At the exceptionally low projected life of mine all-in-costs of USD $787 per ounce
This one million ounces of ‘low-hanging fruit’ will generate over $2.3 billion in revenue over the next decade. More than $1.2 billion in pre-tax free cash flow. And, based on a gold price of just USD $1,800 an ounce, delivering an exceptional pre-tax margin of more than $1,350 per ounce.
There’s good reason for this extraordinary operating margin.
The PureGold mine is one of the highest-grade gold mines on the planet – higher than 95% of all other producing gold mines. In fact, it’s in the top 5th percentile.4
This should come as no surprise.
Our mantra has always been to keep our eyes wide open, but to ‘Dream no small dreams’.
In less than 6 years, PureGold has defined a 2.1-million-ounce Indicated Resource, and a 0.5-million-ounce Inferred Resource at the PureGold Mine. Mineral resources are inclusive of Probable Mineral Reserves of 1 million ounces of gold grading 9 g/t. 1,6
We believe this is just the tip of the iceberg.
Data from more than 1.3 million metres of drilling has now delineated a 7-kilometre-long by half-a-kilometre-wide Gold Corridor on our property. This Corridor has a similar geological environment, as the Red Lake Mine Complex right next door – a mine complex which has already produced over 25 million ounces of gold.8
Our aggressive and highly-successful exploration and expansion drilling program continues to make new discoveries – discoveries which extend the scale and confirm the continuity of this gold system along our Gold Corridor. Discoveries of new near-surface zones with mineral resources that are not currently included in our feasibility study or mine plan. Discoveries that remain open along strike and at depth for expansion. Discoveries with mineral resources made over 3 kilometres south of the PureGold mine.
It’s like opening the door to Canada’s Fort Knox.
We believe we have barely scratched the surface. That’s why our ongoing exploration drilling program includes more than 30,000 metres of new, highly-focused drilling along our Gold Corridor.
To which we say, dream no small dreams.
We are in good company.
More than 30% of PureGold is owned by three global gold leaders and visionaries, including: Eric Sprott, the world-renowned gold visionary and investor, who owns over 10% of PureGold; the world’s third-largest gold producer, AngloGold Ashanti, which owns 16% of PureGold; and Newmont, the largest gold producer in the world.5
Our leadership and management teams have deep roots and experience in the geology of the Red Lake gold district, and direct hands-on experience from years of on-site exploring, mining, and producing high-grade gold in this area.
As owners, leaders, mine builders, and operators with extensive experience on most continents, we believe that we are the next chapter in the evolution of Red Lake. That we will achieve exponential transformative growth, in both size and scale, of our gold asset. Because we believe that there’s significantly more high-grade gold waiting to be discovered, right here, in Canada’s Red Lake.
Dream no small dreams.
Words to live by.
At PureGold, responsible mining is not an oxymoron. It is both a duty and a commitment.
We are a principled and ethical company, trying our best to be good neighbours, fully committed to our people, our community, and the environment.
Yes, we are passionate about gold and discovery.
Yes, we are in pursuit of profit for our shareholders.
But these motivations run parallel with our duty and responsibility to our People (safety, training, culture, good salaries and benefits for over 300 workers), our Community (agreements with First Nations, strong sustainable economic benefits, and community development), and the Environment (meeting and/or exceeding modern environmental and engineering standards, protection of wildlife, lands, and waters, and progressive closure and reclamation of surface disturbances – including for mining sites conducted by previous operators).
More than 30% of PureGold is owned by four global gold leaders and visionaries, including:
Rob McEwen, who transformed neighbouring GoldCorp into a multi-billion-dollar producer, was a cornerstone investor.
Eric Sprott, the world’s renowned gold visionary and investor, owns over 10% of PureGold.
AngloGold Ashanti, the world’s third-largest gold producer, is a cornerstone investor.
Newmont, the largest gold producer on the planet.
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